Timothy Sumer

What are the early withdrawal rules for 401K, 403b, 457, and TSP? Let's go over how much you need to invest every year to have $1 million by age 55. High-Yield Savings Account with Ally Bank (Affiliate): ➡️ Private Group Coaching with Psy ➡️ 🤳 Psy on TikTok, Facebook, Instagram 🤳 ➡️ 📖 Get Your Free Financial Spreadsheets and Resources 📖 ➡️ 👨‍🏫 Free Financial Coaching 👩‍🏫 Schedule a free 20-minute Individual Coaching Session Schedule a free 30-minute Couple's Coaching Session ➡️ 📖 My YouTube Studio & Equipment 📖 ➡️ For sponsorships and business inquiries ➡️ media@firepsychat.com 📷 Additional FIRE Videos Mentioned In this Video 📷 Our $3.7 Mil Fat FIRE Plan - How We're Saving 70% of Income (2023) - My $1.1 Mil Fat FIRE Progress (Sep 2022) - How to Become an Ordinary Millionaire - How to Start F.I.R.E - The Ultimate F.I.R.E Guide - How to Invest in an HSA - Become a TSP Millionaire - Financial Independence Calculator - ⏰ Tab

Wondering how to retire early? This video covers the 5 areas to have covered if you want to retire early. Maybe you don't plan on waiting until Full Retirement Age, maybe you have been saving towards that "bucket list and want to get a jump start on it OR maybe you are just tired of the workforce and ready for financial independence. Through these tips, we've helped others, just like you, towards the goal of early retirement. Website: Facebook: LinkedIn: In the video, we cover 5 areas that you want to have covered when finalizing that early retirement date. 1. Your financial health -understanding the contribution phase vs. the retirement withdrawal phase ("Distribution") -Making sure your financial bucket is big enough -Tallying up your future expenses -having a financial emergency fund -stress test your portfolio 2. Social Security -The importance of having a social security strategy in place -Understanding the early retirement social secur

401k rollover strategy to retire at 55 #financialfreedom #retirement #retirementplanning **Free Retirement Download: The Checklist to Retirement:** 📊 **To schedule your virtual retirement and investment consultation with Drew, please select a day & time that works best for you: ☎️ **Enroll In Our Course: Can I Retire: A Foundation To Your Retirement Journey: ** 🖥️ Retirement income strategies and retirement income planning are two big pieces to anyones retirement planning calculator. Whether you are wanting to know strategies for "retirement planning at 30", "retirement planning at 40", "retirement planning at 50", or even "retirement planning at 60" understanding how much retirement income that you want versus how much you need gives you a roadmap to follow to and through retirement. Here at Pearl Wealth Group, we run a trademarked retirement investment and retirement income plan for individuals and families who are

📈 Can I retire at 61 with $550,000 after being laid off? Key Steps for a Secure Retirement! 📉 As a financial advisor, I often encounter individuals facing unexpected career transitions, like being laid off, leading to questions about their retirement plans. Today, I want to address a common scenario and provide actionable steps for those considering retirement at 61 with $550,000 in savings. Assess Your Financial Situation: Begin by thoroughly evaluating your current financial & retirement standing. Take stock of your savings, investments, debts, and any potential sources of income during retirement. Understanding your financial landscape is crucial before making any retirement decisions. Set Clear Retirement Goals: Define your retirement lifestyle and financial goals. Consider factors like your desired standard of living, travel plans, healthcare needs, and other retirement expenses. This clarity will help you determine if your retirement savings align with your ret

Are you interested in investing in gold? Look no further! Welcome to "The Ultimate Gold IRA Buying Guide: Unveiling the Best Way to Invest in Gold!" In this comprehensive video, we will navigate through the world of gold IRA investments and showcase the best strategies to purchase gold. 📈💰 Gold IRAs offer a secure and diverse investment opportunity, especially during uncertain economic times. Gold not only acts as a store of value but also hedges against inflation. Whether you're new to investing or a seasoned pro, this guide will provide valuable insights on how to make the most out of your gold IRA. 💼✨ Our expert panel will walk you through various gold buying options, ensuring you are fully equipped to make informed decisions. Learn the pros and cons of buying physical gold, including gold bars and coins, versus investing in gold ETFs or mining stocks. We'll help you understand the tax advantages and regulations surrounding gold IRAs, ensuring compli

What No One Tells You About Early Retirement (The Truth) You want to retire early and enjoy the many perks of no longer having to work but there are some things you must know in order to ensure a happy retirement. Everyone wants to retire early but there are some extremely important things you should know about early retirement. It’s an attractive idea to have enough money saved up that passive income pays your bills and there’s no need to work. You’ll have plenty of free time to enjoy hobbies, travel and spend time with friends and family. What could be better than that? You might be surprised to hear that early retirement isn’t what you think. Make sure to be prepared beforehand so you can make the most of the time you worked so hard for.... ( read more ) LEARN MORE ABOUT: Qualified Retirement Plans REVEALED: How To Invest During Inflation HOW TO INVEST IN GOLD: Gold IRA Investing HOW TO INVEST IN SILVER: Silver IRA Investing What No One Tells You Ab

Want to Retire Early & enjoy Financial Freedom? Dreaming of a relaxed & enjoyable life in your Golden Years? If Yes!! You need to start planning for it Now !! For example, you are 25-year-old & want to retire at 40 And, would like to have monthly income of Rs 50,000 for next 40 years So, in this case..if we assume inflation @6% and return on investment @12% You need to save about Rs 45,500 for 15 years To achieve this, you would require a proper Plan Do you want to know how much you need to Save & where to Invest it? Feel free to call us at 9460825477 #earlyretirement #retireearly #fire #retirement #pension #retire #retirementplanning #retirementplanner #passiveincome #finance #financialeducation #financetips #financialliteracy #investment #personalfinance #investmentstrategies #financecoach #financegoals #financialplanning #financialfreedom #financialindependence Financial Friend Contact at 9460825477 contact@financialfriend.in

What will happen to your TSP when you're retired or separated from federal service? Let's dive deep into the TSP withdrawal options. Private Group Coaching with Psy ➡️ 🤳 Psy on TikTok, Facebook, Instagram 🤳 📖 Get Your Free Financial Spreadsheets and Resources 📖 ➡️ 👨‍🏫 Free Financial Coaching 👩‍🏫 Schedule a free 20-minute Individual Coaching Session Schedule a free 30-minute Couple's Coaching Session ➡️ 📧 Email: hello@firepsychat.com 📖 What’s on my display shelf? 📖 ➡️ For sponsorships and business inquiries ➡️ media@firepsychat.com 📷 Additional FIRE Videos Mentioned In this Video 📷 Our $3.7 Mil Fat FIRE Plan - How We're Saving 70% of Income (2023) - My $1.1 Mil Fat FIRE Progress (Sep 2022) - How to Become an Ordinary Millionaire - How to Start F.I.R.E - The Ultimate F.I.R.E Guide - How to Invest in an HSA - Become a TSP Millionaire - Financial Independence Calculator - ⏰ Table of Contents ⏰ 0:00 TSP Retirement Withdrawal b

How To Retire at 55 with IRA || Retire Early & Avoid Penalties In this video, I want to talk about retiring early with a 72T. This video will help you understand what retirement looks like under the age of 59 1/2 and how you can retire and use your retirement investments for income without paying a penalty. **Free Retirement Download: The Roadmap to Retirement:** 📊 If you have most of your retirement assets in an IRA, simple IRA, or SEP IRA this retirement strategy will help you retire at 55 or retire at 50 or retire at any age under 59 1/2. What is a 72T? A 72T is an IRS rule that allows someone who wants to retire early to take substantially equal periodic payments from their IRAs and avoid the 10% early distribution penalty. There are three methods for determining substantially equal periodic payments for retirement income with a 72T: amortization, annuitization, and required minimum distribution. Once you begin taking retirement income from your IRA using a

How often have you heard you should take advantage of your 401k max contribution rate? We hear it all the time! Unfortunately 401k plans have been oversold as the suitable replacement for the disappearing pension. The max contribution you can make intro your 401k is almost always far larger than any employer match. So the questions becomes: "what is the optimal way to save for retirement?" Should you max out your 401k? That depends!!! Do you want to retire early? If so, where will your early retirement withdrawals come from? It is possible to make a separation from service distribution at or after age 55, but the request needs to be done correctly to avoid any 10% penalty. Are you a high earner? If so, does making a max contribution to a tax deferred vehicle really make sense? Do you have faith that our government spending will get under control? Tax deferred vehicles have their place, but too much tax deferred money can set you up for a major tax headache